Bad economy is not good for either super rich or very rich

[ivankoh]

In any possible economic conditions.  The most difficult are still the poor.  For example, during the peak of inflation, the poor could not own any land and they had to come to terms with that bad economic trend.  As for the rich - they own or attach available resources to further create the basis for making money.  So I agree with the OP that a bad economy leads to a chain of effects, potentially abusive behavior for the benefit that continues in the end only the poor are left alone.  Lol

[Reid]

In a bad economy the rich will stay rich and the poor will be pulled down more.

Yes it might sounds grazy but i rather live in safe world and i dont mind unfair system i prefer safety and relaxing and that happy people around me and safety

Hunger will come so how could you relax if the people you are with have empty stomachs? Will they even feel safe knowing nothing about what lies in the future of their country or for them?
Business owners who are mostly the upper class can adjust their sales if an inflation happens. Then, merchants will need some profits, an item will be inflated once again. While a working class or the consumers will have to wait for months or worse, years waiting for an increase to equal the need of the inflation happening. That explains it.

[istiak2277]

If I am rich then why do I care about the economy is bad or not! I absolutely don't care and if I already have wealth then I can make more wealth through smart investment. In a bad economic condition poor and middle class people need money for food and run business. I can give them money as a loan and charge interest. There are many other ways too.

Actually in capitalism rich become richer no matter what the economic condition is.

[kaya11]

If I am rich then why do I care about the economy is bad or not! I absolutely don't care and if I already have wealth then I can make more wealth through smart investment. In a bad economic condition poor and middle class people need money for food and run business. I can give them money as a loan and charge interest. There are many other ways too.

Actually in capitalism rich become richer no matter what the economic condition is.

It matters to me when I am rich and while the economy is in bad shape. Remember the poor are the workers, they are many than the rich people. If they won't work who will? It is a balance, the rich must support the poor and help them out even a little. If poverty is getting worst in the country, all of the people will suffer including the rich. Maybe not in financial matters but, crime rates will increase, illicit activities, riots and rallies. The people will oppose somewhere and I won't be relaxing at those times as it will also affect my daily living, with danger in the society. Well the case is different when you are a foreigner from a rich country, which you could go home anytime you like if things gets worst in a place where you are doing business. We just need to be human in times of hardship, we are dependent on each other in some ways.

[Viscore]

Bad economy is worse off because the situation will deteriorate the more and the poor people living there will suffer more. However no type economy is good for bad decision or policy aa it will not take people out of poverty line but to bring them into more poverty. The reason for bad economy is bad policy from the government. Poor people have limited resources for themselves and family but if the situation becomes worse then the extended families may be cut off.

Bad economy brings negative impact to everyone, but mostly the poorest people are the most affected. It will make their life's situations worst that will lead them to extreme poverty and hunger. This is why when candidates run in the election, they always promise the poor people to bring good economy, of course the poor ones stick to it and vote for them. But as always, promises have gone totally when the election ends.

[||bit]

If you are the rich man,you are good by paying taxes.Incase you skip for the sake of taxes.You are not the good person to percentage.At the bad economy the person who had huge money also accepted to pay for the food.If you help the poor at food sense,you may look like a good person.But it’s not a correct one.For this,you may pay the taxes,government will look many person.

[GeorgeJohn]

I just read an article that talks about inflation and the current bad economy actually makes the rich richer,,,,, and this has a bad impact on those in the lower and middle economies

lol...it base on the height of your richness, probably inflation is negative condition that the welfare of contry, so when it happened to a country i think everyone suffer it and it doesn't give any vital room or create any space for the rich to get richer, expecting it's a condition where by a government arms actually contributes ninety percent (90) of the inflation in order to punish the massive, actually normal inflation always affect everyone dwelling in such society or geographical environment

[fullhdpixel]

When the economy is bad, the poor ones are the ones who suffer the most from it. The rich ones will be able to go through it because they're already rich and they have what it takes to keep going when the economy is bad.

But for the poor people, they do not have anything at all and when food starts getting costly and they have nothing to rely on to get income and take care of themselves and their family, some of them might choose to do something wrong just because they want to get that money and take care of themselves and feed. So, it is usually difficult for everyone and just like you said, it’s also difficult for the rich, but the poor ones suffer the most.

Doing something wrong like committing a crime only to feed yourself or your family is not right. There are so many ways to earn money, why will someone choose that path. Rich or very rich people usually run a business and they can get affected because they can get less customers whenever there's a problem with the economy.

To have a good or bad economy is I think starts with the government if how the government runs their own country but we shouldn't put all the blame on them. We people must do something in order to improve our lives like we can save some of our earnings but before that, we should not be lazy and do a legal work to earn money.

[FrozenBit]

Think a bit personal when you can only do so within your ability. An unstable economy is something no one wants right now, but think more positively to look forward to a good future. We all want to be rich and pursue our own goals. When you know how to be satisfied with what you have, even if it's not a life of luxury or a life of poverty, they are all your life. Helping each other towards a better future is not just for personal gain. If you think only of yourself, you are like those who want to dominate and control for themselves.

[el kaka22]

This is something I talked about before in the money printing period. There were a lot of people who said that money printing only helps the rich people, and I said it was the other way around, it helps the poor a lot more.

Why? Because the rich managed to build a wealth, and their wealth became nothing when the inflation and money printing happened, whereas that printed money went to people instead and even though most didn't make any money and barely paid their survival with it, that basically means that at least they got something. So, what wealthy people got was the main cause for their wealth to worth a lot less than what it used to worth.

[Alert31]

To have a good or bad economy, I think it's depends on the government on how they will manage the economy and get solution to avoid a bad economy because whether good or bad economy everyone will be affected. It will affect to the businesses of the rich people and also affect the daily living of the poor and the middle class. While the government think for the better economy, we as people and community should also strive to have a good life and do a legal works to earn money.

[adaseb]

Recessions are not good for anyone. The poor and middle class will suffer the most and the rich will suffer because their businesses will make less money and they will make less money as a result.

The rich are obviously safer because they got more savings rather than some middle class person working pay check to pay check who loses their job. However we all suffer as a result.

However right now with the way how inflation is going crazy there isn’t much that central banks can do. They need to raise interest rates to control inflation. If they don’t it’ll get much worse in the near term.

[South Park]

I just read an article that talks about inflation and the current bad economy actually makes the rich richer,,,,, and this has a bad impact on those in the lower and middle economies

What happens is that even if everyone is affected by hyperinflation the effects are different depending on your wealth level, the poor become even poorer as they can hardly afford food and other basic necessities, the middle class which is heavily indebted suffers as they lose their homes, their jobs, keep their debts and they can hardly afford food either, so in my opinion they are the hardest hit, while the rich lose a great deal of their paper wealth, but they can still retain or even increase their wealth in hard assets, and if they make the right moves they can even thrive under those difficult circumstances, making the rich richer and the poor poorer.

[horrifiedx1]

I just read an article that talks about inflation and the current bad economy actually makes the rich richer,,,,, and this has a bad impact on those in the lower and middle economies

What happens is that even if everyone is affected by hyperinflation the effects are different depending on your wealth level, the poor become even poorer as they can hardly afford food and other basic necessities, the middle class which is heavily indebted suffers as they lose their homes, their jobs, keep their debts and they can hardly afford food either, so in my opinion they are the hardest hit, while the rich lose a great deal of their paper wealth, but they can still retain or even increase their wealth in hard assets, and if they make the right moves they can even thrive under those difficult circumstances, making the rich richer and the poor poorer.

This happens because the super-rich have the power to monopolize the vital economic areas of the country, where they can tamper with their income by selling their products, so that in a hyper-inflationary situation they can still make a profit. plus of course they have power in the country with the money. while the poor and middle class seem helpless, it is also possible that they can buy government regulations so that only some parties benefit, things like this often happen in poor or developing countries

[Sir Legend]

I think a bad economy is something that the very rich are afraid of, when there is a bad economy, it is prone to riots so that their wealth can drop or even disappear, many very rich people have immovable assets such as land, factories, apartments and so on, when there is a bad economy then purchasing power decreases so this is what is very feared.

[Pomogator]

I think a bad economy is something that the very rich are afraid of, when there is a bad economy, it is prone to riots so that their wealth can drop or even disappear, many very rich people have immovable assets such as land, factories, apartments and so on, when there is a bad economy then purchasing power decreases so this is what is very feared.

In many countries where riots took place, they were accompanied by vandalism, such actions are dispersed very quickly, but what if they are large-scale? I think then the really very rich can lose their property. These riots often occur because the standard of living is very low.

[Pejoh Asu]

No one benefits from a bad economy, from the poor to the very rich of course never expect a bad economy to happen, a bad economy will disrupt security and political stability so that very rich people are always afraid to do anything, and massive crime and robbery will occur so that people are always anxious.

[molsewid]

No one benefits from a bad economy, from the poor to the very rich of course never expect a bad economy to happen, a bad economy will disrupt security and political stability so that very rich people are always afraid to do anything, and massive crime and robbery will occur so that people are always anxious.

Of course no one will benefit from a bad economy either a poor or a rich people but I guess the corrupt government officials will make the best out of a bad economy. It is proven that bad economy will going to give negative income to the businesses either small or big industries because assets are being vandalize sometimes destroyed because of the kind of economy where security purposes didn't impose strictly. And not only rich people are afraid of losing assets or properties but poor people are also afraid because they are already lack in good quality of life the threat but also the rights to live in a peaceful environment were not possible.

[maydna]

No one benefits from a bad economy, from the poor to the very rich of course never expect a bad economy to happen, a bad economy will disrupt security and political stability so that very rich people are always afraid to do anything, and massive crime and robbery will occur so that people are always anxious.

Perhaps, it will depend on the government in managing their economy because if they can put the state budget in the right position, the economy will hopefully run well. It requires the integrity of every government employee in distributing the state budget so that no one will run out of budget or misstep. But indeed, the economy of a country is also related to conditions that occur in other countries so every country must have a reserve fund if a bad economy comes.

[Zanab247]

If I am rich then why do I care about the economy is bad or not! I absolutely don't care and if I already have wealth then I can make more wealth through smart investment. In a bad economic condition poor and middle class people need money for food and run business. I can give them money as a loan and charge interest. There are many other ways too.

Actually in capitalism rich become richer no matter what the economic condition is.

I think, you must be care about the bad economy if you are a rich man because bad economy affect both Rich men and poor men in the country. Even though you give people loan for a huge amount of interest, they will find it difficult to return the capital and the interest because of the bad economy that is happening around their country. Where there is a good economy both the rich men and poor men enjoy it, because they will find things easy to grow their businesses and families in the country.